[iStockphoto]The value of the Kenyan Shilling is expected to surpass 160 against the dollar, leading to further financial distress for consumers. The shilling reached an unprecedented new low against the dollar last week due to a surge in demand for the greenback. Several major banks had set their selling price for the dollar between Sh155 and Sh157 per unit, while their buying price ranged from Sh141 to Sh148. Similarly, Family Bank is selling the dollar at Sh156 per unit and buying at Sh152 per unit, just like most foreign exchange bureaus. I&M Bank was selling the dollar at Sh156.3 per unit, while NCBA was selling it at Sh156.25 per unit.

Source: Daily Nation October 23, 2023 09:47 UTC